Which of the Following Is True About the Sarbanes-Oxley Act

question 13

Multiple Choice

Which of the following is true about the Sarbanes-Oxley Act?

• A)It specifically asked for lenient penalties in sentencing recommendations.
• B)It required public companies to establish a code of conduct for top executives and, if they did not have one, to explain why it did not exist.
• C)Its mandatory nature violated the Sixth Amendment right to a jury trial.
• D)It did not support the United States Sentencing Commission's guidelines to create both a legal and an ethical corporate environment.

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Definitions:

Great Depression

A severe worldwide economic depression that took place during the 1930s, affecting most countries, leading to significant declines in output, severe unemployment, and acute deflation.

Dust Bowl

A period in the 1930s characterized by severe dust storms that greatly damaged the ecology and agriculture of the US and Canadian prairies.

International Financial Structure

The global framework of legal agreements, institutions, and both formal and informal economic actors that together facilitate international flows of financial capital for purposes of investment and trade financing.

Trade Deficit

A situation in which a country's imports exceed its exports during a given time period.